Backup for when the blanket ban happens.
Chinese Economics Thread
- Thread starter Norfolk
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Backup for when the blanket ban happens.
Or when the dollar collapse, why keep on getting useless toilet paper when you can stocked up on more tangible assets
Why would a blanket ban happen for no reason?
Does the US need a reason to do something?
This is the first time that China (or any other power), through SGE, has begun to set global gold prices (more so break the Western price manipulation) and stopped Western financial, purposeful, constant devaluing of gold through COMEX and London gold market (for obvious reasons, discourage people from owning gold and keeping their global monetary hegemonies).
This is also what directly led to the current 'unnatural' break-out in the gold price. There is also much less volatility in SGE than there (massive volatility also discourages global gold adoption), as it is the physical gold market, as opposed to trading 'paper gold' like in the 2 Western major markets It is much easier to manipulate prices when you don't have to physically settle anything.
Also, the London fix, which was the current accepted price of gold so far, is like a cartel, decided by major Western banks at a conference. SGE is not only OTC trading, but a transparent, centralized, traditional, and 'real market' where actual buying and selling orders determine the price like a real exchange - not Western financial institutions' private market under the control of the US gov. So, both the gold itself and the gold trading and pricing are moving away from the West to the East. By now gold certainly is going to rise as the chosen reserve asset for many countries.
This is also what directly led to the current 'unnatural' break-out in the gold price. There is also much less volatility in SGE than there (massive volatility also discourages global gold adoption), as it is the physical gold market, as opposed to trading 'paper gold' like in the 2 Western major markets It is much easier to manipulate prices when you don't have to physically settle anything.
Also, the London fix, which was the current accepted price of gold so far, is like a cartel, decided by major Western banks at a conference. SGE is not only OTC trading, but a transparent, centralized, traditional, and 'real market' where actual buying and selling orders determine the price like a real exchange - not Western financial institutions' private market under the control of the US gov. So, both the gold itself and the gold trading and pricing are moving away from the West to the East. By now gold certainly is going to rise as the chosen reserve asset for many countries.
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The usual seethe from The (Pseudo)Economist, but it indicates a new important trend in the Chinese housing market:
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Unimaginably based. The state will let die all the private developers with links to foreign capital and a history of flouting the rules while rescuing those favoured by regulators and using their capital to build social housing and reorient the entire residential real estate market. Massive W.
That is what happens to people who forget their own history. In the UK, after WW2, there was a lack of housing and the government invested in building massive public housing works. This meant low and middle income people in the UK could have homes. After the privatization of such houses under Margaret Thatcher the housing prices in the UK have continued to rise dramatically. A lot of people can't afford to own or even rent proper houses. Of course The Economist just blissfully ignores all of that because it does not fit their narrative.
The private contractors were mostly building luxury and high end homes. This does not solve the housing needs for most of the people in China who still need to move into cities. Which are to a large degree lower income.
The private contractors were mostly building luxury and high end homes. This does not solve the housing needs for most of the people in China who still need to move into cities. Which are to a large degree lower income.
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By the late 1970s, one-third of UK households were in government provided social housing which they could rent, but not buy.
But I think the more relevant example is Singapore which still has 80% of the population in government provided housing.
In the case of Singapore the lack of land to build on and lack of modern housing made the government focus on controlling the housing sector. I wouldn't say China has problems to nearly the same degree. Although you see similar situations in some of the major Chinese cities like Hong Kong. In Hong Kong they have little space to built on and, because the property sector is private, houses are basically impossible to buy for average people. However this isn't the case in all of China. And the Chinese government is trying to get people still moving to the cities to go into 3rd tier cities instead of the larger cities.
lol so much for the Anglo western private equity plot to go “Blackrock” on chinese home buyers. They became bagholders and Chinese get their houses anyway.